Geely Auto (00175) recorded strong growth in the first three quarters, with net profit attributable to shareholders increasing by 358% to 13.1 billion yuan.

GEELY AUTO (00175) announced its performance for the third quarter of 2024, with sales reaching 534,000 units, a year-on-year increase of 19%. Revenue was 60.378 billion yuan, an increase of 20% compared to the same period last year. The net profit attributable to the company's equity holders was 2.455 billion yuan, an increase of 92% compared to the same period last year. In the first three quarters of 2024, the group's performance maintained strong growth, with sales increasing by 32% to 1.4897 million units year-on-year, outpacing the market growth rate. With a complete research, production, supply, and sales system, the group continued to launch new products, rapidly increasing sales volume, continuously optimizing the product structure. In the first three quarters of 2024, the group's revenue increased by 36% to 167.684 billion yuan year-on-year, and the net profit attributable to the company's equity holders increased by 358% to 13.1 billion yuan compared to the same period last year. In addition, Jikeyan Holdings (a subsidiary of the group) showed excellent overall performance in the first three quarters of 2024, with a significant increase in sales. By the end of the first three quarters, the total delivery volume was approximately 143,000 units, an 81% increase year-on-year. Revenue reached 53.1 billion yuan during the period, an increase of 51% year-on-year; gross profit reached 8 billion yuan, an increase of 69% year-on-year; and gross profit margin reached 15.2%, up 1.7 percentage points from the same period in 2023.